Wolfe Research Begins Coverage on Eldorado Resorts (NASDAQ:ERI)

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Wolfe Research started coverage on shares of Eldorado Resorts (NASDAQ:ERI) in a research note issued to investors on Friday, Briefing.com Automated Import reports. The brokerage issued a peer perform rating on the stock.

A number of other research analysts also recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Eldorado Resorts in a research report on Wednesday, June 5th. They issued a buy rating and a $62.00 target price for the company. Zacks Investment Research raised shares of Eldorado Resorts from a sell rating to a hold rating in a research report on Tuesday, March 26th. BidaskClub cut shares of Eldorado Resorts from a buy rating to a hold rating in a research note on Friday, March 15th. Roth Capital reiterated a buy rating on shares of Eldorado Resorts in a research note on Thursday, February 28th. Finally, Jefferies Financial Group set a $58.00 price target on shares of Eldorado Resorts and gave the company a buy rating in a research note on Thursday, February 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $54.71.

Eldorado Resorts stock opened at $53.18 on Friday. The company has a market capitalization of $4.01 billion, a P/E ratio of 38.54, a P/E/G ratio of 1.12 and a beta of 1.65. Eldorado Resorts has a 1-year low of $31.86 and a 1-year high of $53.39. The company has a fifty day simple moving average of $49.34. The company has a current ratio of 0.98, a quick ratio of 0.93 and a debt-to-equity ratio of 3.78.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, May 2nd. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The business had revenue of $627.75 million during the quarter, compared to the consensus estimate of $660.92 million. Eldorado Resorts had a net margin of 5.00% and a return on equity of 11.41%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, analysts predict that Eldorado Resorts will post 2.32 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its stake in Eldorado Resorts by 3,877.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 941,858 shares of the company’s stock valued at $26,000 after acquiring an additional 918,176 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in Eldorado Resorts in the first quarter valued at $28,000. Mascoma Wealth Management LLC acquired a new stake in Eldorado Resorts in the first quarter valued at $47,000. Marshall Wace LLP acquired a new stake in Eldorado Resorts in the first quarter valued at $69,000. Finally, Bank of Montreal Can lifted its stake in Eldorado Resorts by 23.9% in the fourth quarter. Bank of Montreal Can now owns 4,269 shares of the company’s stock valued at $154,000 after acquiring an additional 824 shares during the last quarter. Hedge funds and other institutional investors own 85.71% of the company’s stock.

About Eldorado Resorts

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a hotel, casino, entertainment, and live thoroughbred horse racing facility; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility; and Eldorado Gaming Scioto Downs, a modern racino.

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Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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